Calculation of Tolerance Based on a Minimum Cost Approach

1972 ◽  
Vol 94 (2) ◽  
pp. 447-453 ◽  
Author(s):  
F. H. Speckhart
Keyword(s):  
Computer Program ◽  
Lagrange Multipliers ◽  
Analytical Method ◽  
Mathematical Description ◽  
Minimum Cost ◽  
Computer Code ◽  
Mechanical Device ◽  
Manufacturing Costs ◽  
Sufficient Detail ◽  
The Cost

This paper presents a workable analytical method for finding the optimum set of dimension tolerances for a mechanical device that will minimize manufacturing costs and meet the imposed restraint conditions. The restraint conditions represent physical requirements that critical parts must fit relative to each other with a given precision. Using the mathematical description of the restraints and information on the cost of manufacturing each dimension as a function of the tolerance, the method utilizes Lagrange multipliers to minimize nonlinear cost functions subject to nonlinear restraint conditions. For all but the simplest problems the use of the method requires computer programming. The method is presented in sufficient detail to allow the reader to develop a computer code. A Fortran computer program that will handle essentially any mechanism and calculate tolerances on a sure fit or statistical-fit basis has proven that the method will give useful results.

A generalized fuzzy cost efficiency model

2020 ◽  
Vol 54 (6) ◽  
pp. 1775-1791
Author(s):  
Nazila Aghayi ◽  
Samira Salehpour
Keyword(s):  
Cost Efficiency ◽  
Minimum Cost ◽  
Extensive Literature ◽  
Data Envelopment ◽  
Fuzzy Environment ◽  
Decision Making Unit ◽  
Production Possibility Set ◽  
Fuzzy Cost ◽  
The Cost ◽  
Generalized Cost

The concept of cost efficiency has become tremendously popular in data envelopment analysis (DEA) as it serves to assess a decision-making unit (DMU) in terms of producing minimum-cost outputs. A large variety of precise and imprecise models have been put forward to measure cost efficiency for the DMUs which have a role in constructing the production possibility set; yet, there’s not an extensive literature on the cost efficiency (CE) measurement for sample DMUs (SDMUs). In an effort to remedy the shortcomings of current models, herein is introduced a generalized cost efficiency model that is capable of operating in a fuzzy environment-involving different types of fuzzy numbers-while preserving the Farrell’s decomposition of cost efficiency. Moreover, to the best of our knowledge, the present paper is the first to measure cost efficiency by using vectors. Ultimately, a useful example is provided to confirm the applicability of the proposed methods.

Main approaches to estimating the cost of shareholder equity of oil and gas producers

2020 ◽  
Vol 26 (3) ◽  
pp. 685-697
Author(s):  
O.V. Shimko
Keyword(s):  
Oil And Gas ◽  
Oil Prices ◽  
Minimum Cost ◽  
Free Cash Flow ◽  
Annual Reports ◽  
Comparative Approach ◽  
Economic Activities ◽  
Advantages And Disadvantages ◽  
Oil And Gas Producers ◽  
The Cost

Subject. The study analyzes generally accepted approaches to assessing the value of companies on the basis of financial statement data of ExxonMobil, Chevron, ConocoPhillips, Occidental Petroleum, Devon Energy, Anadarko Petroleum, EOG Resources, Apache, Marathon Oil, Imperial Oil, Suncor Energy, Husky Energy, Canadian Natural Resources, Royal Dutch Shell, Gazprom, Rosneft, LUKOIL, and others, for 1999—2018. Objectives. The aim is to determine the specifics of using the methods of cost, DFC, and comparative approaches to assessing the value of share capital of oil and gas companies. Methods. The study employs methods of statistical analysis and generalization of materials of scientific articles and official annual reports on the results of financial and economic activities of the largest public oil and gas corporations. Results. Based on the results of a comprehensive analysis, I identified advantages and disadvantages of standard approaches to assessing the value of oil and gas producers. Conclusions. The paper describes pros and cons of the said approaches. For instance, the cost approach is acceptable for assessing the minimum cost of small companies in the industry. The DFC-based approach complicates the reliability of medium-term forecasts for oil prices due to fluctuations in oil prices inherent in the industry, on which the net profit and free cash flow of companies depend to a large extent. The comparative approach enables to quickly determine the range of possible value of the corporation based on transactions data and current market situation.

A claims problem approach to the cost allocation of a minimum cost spanning tree

2021 ◽  
Author(s):  
José-Manuel Giménez-Gómez ◽  
Josep E. Peris ◽  
Begoña Subiza
Keyword(s):  
Spanning Tree ◽  
Cost Allocation ◽  
Minimum Cost ◽  
Claims Problem ◽  
The Cost

Enterprise Inventory Control Based on Supply Chain Management

2012 ◽  
Vol 472-475 ◽  
pp. 3273-3276
Author(s):  
Qing Ying Zhang ◽  
Ying Chi ◽  
Yu Liu ◽  
Qian Shi
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Inventory Control ◽  
Control Strategies ◽  
Minimum Cost ◽  
Chain Management ◽  
Main Target ◽  
The Cost

The main target of supply chain management is to control inventory of each node enterprise effectively with the minimum cost. In this paper, the control strategies and methods of inventory based on supply chain management are put forward, which are significant for saving the cost of supply chain and improving the overall benefits of the whole chain.

Preliminary design of precast, segmental box-girder bridges using optimization

1979 ◽  
Vol 6 (1) ◽  
pp. 120-128
Author(s):  
Craig J. Miller ◽  
Juarez Accioly
Keyword(s):  
Minimum Cost ◽  
Preliminary Design ◽  
Box Girder Bridges ◽  
Cross Sectional ◽  
Box Girder ◽  
Prestressing Steel ◽  
Girder Bridges ◽  
Starting Point ◽  
Final Design ◽  
The Cost

Precast, prestressed segmental box-girder bridges are now accepted as an economical alternative for spans over 150 ft (46 m). Decisions about cross-sectional dimensions made during preliminary design can have a substantial influence on the final cost of the bridge. To help the designer obtain an economical starting point for a final design, a program was written to determine section dimensions and midspan and pier prestressing steel areas to give minimum cost. Since a preliminary design is obtained, the analysis techniques and design criteria have been simplified to reduce computation. The design produced by the program will satisfy AASHTO specification requirements and the recommendations of the PCI Bridge Committee. The optimization algorithm used is the generalized reduced gradient technique. To demonstrate the program capabilities, three example problems are discussed. The results indicate that optimum span-depth ratios are approximately 24 for the cost ratios used. The cost of the optimum design does not seem to be too sensitive to the ratio of concrete cost to prestressing steel cost.

scholarly journals ANALISIS DIFFERENTIAL COST DAN OPPORTUNITY COST DALAM PENGAMBILAN KEPUTUSAN MEMBELI ATAU MEMPRODUKSI SENDIRI PADA INDUSTRI RUMAH PANGGUNG WOLOAN

2015 ◽  
Vol 13 (03) ◽  
Author(s):  
Romeo Fersi Mongdong ◽  
Jenny Morasa ◽  
Heince Wokas
Keyword(s):  
Cost Analysis ◽  
Analytical Method ◽  
Opportunity Cost ◽  
Raw Materials ◽  
Quantitative Result ◽  
Opportunity Costs ◽  
Business World ◽  
Differential Costs ◽  
The Right ◽  
The Cost

The business world today is characterized by increasing competition among existing companies. Competition occurs in all sectors of the economy both industry, trade, and services. One of the decisions that must be taken in planning at every alternative is to buy or produce itself a component of raw materials. Differential cost are related to the opportunity cost, which is the differential cost incurred costs as a result of certain decisions while the opportunity cost is the cost incurred when choosing a decision. The purpose of this study to analyze the differential costs and opportunity costs in the decision to buy or produce their own on Industri Rumah Panggung Woloan. The analytical method used is descreptive quantitative. Result of the differential cost analysis showed that the right decisions can be taken by the management company the manufactures its own because getting a hihgter differential gain, compared to buying from outside. While the opportunity cost of the buying raw materials from outside is more profitable, thus producing itself becomes more expensive. Should the leadership Industri Rumah Panggung Woloan produce their own wood from the outside becauseit would be more adventageous, compared to taking wood there are kept alone.

scholarly journals Trend Analysis of Cost Components in Select Pharmaceutical Companies

2019 ◽  
Vol 8 (4) ◽  
pp. 2289-2298
Keyword(s):  
Pharmaceutical Industry ◽  
Trend Analysis ◽  
Health Benefits ◽  
Annual Reports ◽  
Pharmaceutical Companies ◽  
Manufacturing Costs ◽  
Operating Profit ◽  
The Future ◽  
The Cost ◽  
Cost Components

The purpose in this paper is to identify the cost components which are vital in consideration towards manufacturing especially in pharmaceutical companies. The manufacturing costs are significant in total expenses in pharmaceutical industry. In this study, a thorough investigation on the cost components and the trend in expenses and operating profit of pharma companies are studied, giving due regard to cost components to have understanding and to find out how they may differ among various types of pharma companies. The data published in the annual reports from 2009 to 2018 of top five pharmaceutical companies based on their annual revenues has been selected for further diagnosis. The analysis reveals that manufacturing costs are different for all the five companies. The study also reveals that there is a considerable indication that the companies are conscious on the much-needed health benefits to the society in the future at an affordable cost

scholarly journals Algorithms for the power-p Steiner tree problem in the Euclidean plane

2018 ◽  
Vol 25 (4) ◽  
pp. 28
Author(s):  
Christina Burt ◽  
Alysson Costa ◽  
Charl Ras
Keyword(s):  
Spanning Tree ◽  
Minimum Spanning Tree ◽  
Valid Inequalities ◽  
Minimum Cost ◽  
Performance Ratio ◽  
Mixed Integer ◽  
Steiner Tree Problem ◽  
Steiner Points ◽  
Tree Construction ◽  
The Cost

We study the problem of constructing minimum power-$p$ Euclidean $k$-Steiner trees in the plane. The problem is to find a tree of minimum cost spanning a set of given terminals where, as opposed to the minimum spanning tree problem, at most $k$ additional nodes (Steiner points) may be introduced anywhere in the plane. The cost of an edge is its length to the power of $p$ (where $p\geq 1$), and the cost of a network is the sum of all edge costs. We propose two heuristics: a ``beaded" minimum spanning tree heuristic; and a heuristic which alternates between minimum spanning tree construction and a local fixed topology minimisation procedure for locating the Steiner points. We show that the performance ratio $\kappa$ of the beaded-MST heuristic satisfies $\sqrt{3}^{p-1}(1+2^{1-p})\leq \kappa\leq 3(2^{p-1})$. We then provide two mixed-integer nonlinear programming formulations for the problem, and extend several important geometric properties into valid inequalities. Finally, we combine the valid inequalities with warm-starting and preprocessing to obtain computational improvements for the $p=2$ case.

Finding Minimum Cost Tool Grouping Schemes on Machining Systems

1997 ◽  
Author(s):  
Derek Yip-Hoi ◽  
Debasish Dutta
Keyword(s):  
Tool Life ◽  
Minimum Cost ◽  
Good Tool ◽  
Machining Center ◽  
Grouping Strategy ◽  
Cost Strategy ◽  
Grouping Strategies ◽  
Machining System ◽  
The Cost ◽  
Cost Components

Abstract Changing worn tools is a major concern in planning operations on machining systems. Strategies for replacing tools range from changing each tool as it reaches its projected tool life, to changing all tools when the tool with the shortest life on the machining system is expended. Intermediate strategies involve changing tools in groups. Each of these strategies has two cost components associated with it: (1) the cost of lost production due to machine tool stoppage, and (2) the cost of unused tool life. The best tool grouping strategy minimizes the combined cost of lost production. In this paper we present an approach for finding good tool grouping strategies from inputs that include the tool utilization for a given machining application, and the tooling and machining system costs. A genetic algorithm is used as the underlying optimization paradigm for finding the minimum cost strategy. An example is presented for a part produced on a machining center.

scholarly journals Coastal protection work for Batu Mejan Beach, Bali

2019 ◽  
Vol 276 ◽  
pp. 04019
Author(s):  
Pujianiki Ni Nyoman ◽  
Astawa Diputra I Gede ◽  
Jayantari Made W ◽  
Mataram INK
Keyword(s):  
Wave Energy ◽  
Protective Layer ◽  
Minimum Cost ◽  
Public Works ◽  
Coastal Protection ◽  
Submerged Breakwater ◽  
The Public ◽  
International Tourist ◽  
Tourism Destinations ◽  
The Cost

Batu Mejan Beach is an international tourist destination located in the Canggu area of Badung regency, Bali. Due to erosion problems of Batu Mejan Beach the local government installed a revetment system to protect the coast. However, the revetment that was built before for the Batu Mejan Beach is currently ineffective and damaged. To determine the parameters for the construction of a new coastal protection system, the wave energy occurring at the site was evaluated initially as part of this study. A Submerged breakwater with a tetrapod for a protective layer was then chosen as the alternative to reduce the wave energy before reaching the shore and to reduce erosion as well as further deterioration of the existing revetment. A Submerged breakwater is suitable in coastal areas that are used as tourism destinations because the submerged breakwater construction is under the water, therefore the beauty of the beach will not be interrupted. Four models were made with variations in the width and elevation of the breakwater peak. The model was selected which has the minimum value of transmission coefficient and minimum cost. The cost budget plan was determined by using the analytical list of the Public Works and Housing Regulations of 2016. From the analysis, a model was selected with a submerged breakwater height of 2.45 m, length of 110 m, distance gap of 55 m, and the budget of IDR 17,861,989,813.

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